MakeMyTrip Limited (MMYT) Price Target Analysis
Updated Jun 18, 2026
Analyst Rating: Buy
Based on 11 analysts94.8% Below Target
MMYT trades 94.8% below Wall Street's consensus target of $91.00.
Current Price$46.72
Average Target$91.00
Target
Current
Low$42.00
Median$112.00
High$119.00
Analyst Target Range
Forward P/E107.0x
(High Premium)
PEG Ratio—
Implied Growth-11.9%
(Declining)
Analyst Spread84.6%
(Wide Disagreement)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes MMYT achieves its forward estimates and maintains a stable P/E multiple of 107.0x. This scenario reflects the blended consensus of 11 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
MMYT Price Target Analysis
Updated June 22, 2026As of June 22, 2026, MakeMyTrip Limited (MMYT) has a Wall Street consensus price target of $91.00, based on estimates from 11 covering analysts. With the stock currently trading at $46.72, this represents a potential upside of +94.8%. The company has a market capitalization of $4.43B.
Analyst price targets range from a low of $42.00 to a high of $119.00, representing a 85% spread in expectations. The median target of $112.00 differs from the mean, suggesting potential outlier estimates. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Buy, with 8 analysts rating the stock as a Buy or Strong Buy,3 rating it Hold, and 0 rating it Sell or Strong Sell. This overwhelmingly bullish sentiment suggests analysts see significant catalysts for upside ahead.
From a valuation perspective, MMYT trades at a trailing P/E of 99.4x and forward P/E of 107.0x. Analysts expect EPS to grow -11.9% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $33.89, with bear and bull scenarios of $21.35 and $44.65 respectively. Model confidence stands at 43/100, suggesting limited visibility into future performance.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Consumer Cyclical stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside
+14.8%
Industry Consensus
Avg Forward P/E
16.2x
(Fair)
Peers with Coverage
10 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 BKNGBooking Holdings Inc. | $133.1B | $171.78 | $230.70 | +34.3% | Buy | 16.4x | 71 |
 EXPEExpedia Group, Inc. | $28.2B | $240.90 | $270.63 | +12.3% | Hold | 12.2x | 75 |
 TCOMTrip.com Group Limited | $28.4B | $45.10 | $75.00 | +66.3% | Buy | 1.6x | 43 |
 TRIPTripadvisor, Inc. | $1.5B | $12.96 | $14.10 | +8.8% | Hold | 9.8x | 56 |
 ABNBAirbnb, Inc. | $84.5B | $142.41 | $154.50 | +8.5% | Buy | 27.8x | 45 |
 TZOOTravelzoo | $120M | $10.96 | $10.00 | -8.8% | Buy | 16.0x | 5 |
 SABRSabre Corporation | $743M | $1.88 | $2.00 | +6.4% | Buy | — | 23 |
 UALUnited Airlines Holdings, Inc. | $38.4B | $118.32 | $139.67 | +18.0% | Buy | 12.6x | 47 |
 DALDelta Air Lines, Inc. | $55.0B | $84.18 | $86.90 | +3.2% | Buy | 15.4x | 44 |
 MARMarriott International, Inc. | $104.5B | $396.20 | $393.07 | -0.8% | Hold | 34.2x | 52 |
MMYT — Frequently Asked Questions
Quick answers to the most common questions about buying MMYT stock.
What is the MMYT stock price target for 2026?
The consensus Wall Street price target for MMYT is $91, representing 94.8% upside from the current price of $46.72. With 11 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
Is MMYT a buy, sell, or hold?
MMYT has a consensus rating of "Buy" based on 11 Wall Street analysts. The rating breakdown is predominantly bullish, with 8 Buy/Strong Buy ratings. The consensus 12-month price target of $91 implies 94.8% upside from current levels.
Is MMYT stock overvalued or undervalued?
At a forward P/E of 106.9597x, MMYT trades at a premium valuation. The consensus price target of $91 (94.8% upside) suggests analysts still see growth justifying the multiple.
How high can MMYT stock go?
The most bullish Wall Street analyst has a price target of $119 for MMYT, while the most conservative target is $42. The consensus of $91 represents the median expectation. Our quantitative valuation model projects a bull case target of $45 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover MMYT stock?
MMYT is moderately covered, with 11 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 8 have Buy ratings, 3 recommend Hold, and 0 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the MMYT stock forecast?
The 12-month MMYT stock forecast based on 11 Wall Street analysts shows a consensus price target of $91, with estimates ranging from $42 (bear case) to $119 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $34, with bear/bull scenarios of $21/$45.
What is MMYT's fair value based on fundamentals?
Our quantitative valuation model calculates MMYT's fair value at $34 (base case), with a bear case of $21 and bull case of $45. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 43/100.
What is MMYT's forward P/E ratio?
MMYT trades at a forward P/E ratio of 107.0x based on next-twelve-months earnings estimates compared to a trailing P/E of 99.4x. The higher forward P/E suggests near-term earnings pressure. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy MMYT stock?
Wall Street analysts are very optimistic on MMYT, with a "Buy" consensus rating and $91 price target (94.8% upside). 8 of 11 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do MMYT price targets vary so much?
MMYT analyst price targets range from $42 to $119, a 85% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $91 consensus represents the middle ground. Our model's $21-$45 range provides an independent fundamental perspective.
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare